Korea Investment CORP Boosts Stake in Pinterest, Inc. (NYSE:PINS)

Korea Investment CORP lifted its position in shares of Pinterest, Inc. (NYSE:PINS) by 63.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 978,467 shares of the company’s stock after purchasing an additional 379,619 shares during the quarter. Korea Investment CORP owned about 0.14% of Pinterest worth $28,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PINS. Whipplewood Advisors LLC purchased a new position in Pinterest during the fourth quarter valued at $28,000. GAMMA Investing LLC lifted its position in Pinterest by 63.5% during the 4th quarter. GAMMA Investing LLC now owns 1,069 shares of the company’s stock valued at $31,000 after acquiring an additional 415 shares during the period. True Wealth Design LLC grew its holdings in Pinterest by 8,261.1% in the third quarter. True Wealth Design LLC now owns 1,505 shares of the company’s stock worth $49,000 after purchasing an additional 1,487 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Pinterest by 51.5% during the fourth quarter. V Square Quantitative Management LLC now owns 1,735 shares of the company’s stock valued at $50,000 after purchasing an additional 590 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in shares of Pinterest by 17,692.3% during the fourth quarter. Manchester Capital Management LLC now owns 2,313 shares of the company’s stock valued at $67,000 after purchasing an additional 2,300 shares during the last quarter. 88.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PINS. Wells Fargo & Company upped their price target on Pinterest from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Oppenheimer lifted their price target on Pinterest from $40.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Benchmark upgraded shares of Pinterest from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, February 7th. Piper Sandler restated a “neutral” rating and set a $41.00 price objective (up from $36.00) on shares of Pinterest in a research note on Friday, February 7th. Finally, Barclays upped their target price on shares of Pinterest from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.33.

Pinterest Stock Down 2.3 %

NYSE PINS opened at $31.49 on Friday. The company has a fifty day moving average of $34.66 and a two-hundred day moving average of $32.37. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.95 and a beta of 1.02. Pinterest, Inc. has a 52 week low of $27.00 and a 52 week high of $45.19.

Pinterest (NYSE:PINS) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.30). Pinterest had a return on equity of 8.10% and a net margin of 51.07%. Equities research analysts anticipate that Pinterest, Inc. will post 0.6 EPS for the current year.

Insider Activity at Pinterest

In other Pinterest news, insider Wanjiku Juanita Walcott sold 6,690 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.85, for a total value of $219,766.50. Following the transaction, the insider now directly owns 254,211 shares in the company, valued at $8,350,831.35. This represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Silbermann sold 102,083 shares of Pinterest stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $33.71, for a total transaction of $3,441,217.93. Following the sale, the director now directly owns 6,274 shares of the company’s stock, valued at $211,496.54. This represents a 94.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,753 shares of company stock worth $11,640,201 in the last quarter. 7.11% of the stock is owned by company insiders.

About Pinterest

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.